Leveraging its $51 million Fund of Funds to drive early stage innovation and venture investment, Cintrifuse today announced its Fund is investing in Mercury Fund Ventures III, a top-tier venture capital fund, to increase seed and early stage venture leadership in Cincinnati. Based in Houston, Texas with over $200 million under management, Mercury Fund has been a supporter of the Cincinnati startup ecosystem since the early 2000s.
“Mercury has known the Cincinnati ‘secret’ for some time,” notes Tim Schigel, Cintrifuse fund manager. “It’s a great testimonial. They’re a great group of astute professionals and their continued involvement bodes well for the ecosystem.”
Mercury has a top-quartile track record across their funds, and is led by a team of venture investment veterans with a passion for technology startups and the ability to uncover great deals and develop great entrepreneurs. Mercury Fund Ventures III will invest in seed and early-stage software and science-based startups, focusing on entrepreneurs and technology innovation originating in the U.S. Midcontinent. Mercury is active in startup communities across the middle of the country. The firm’s existing engagements in the greater Cincinnati region include mentoring Brandery companies, holding office hours at Cintrifuse, investing in and advising Vine Street Ventures, and syndicating investments with Blue Chip Venture Company. The investment by the Cintrifuse Fund supports and builds on these efforts.
“They see that Cincinnati has a unique mix of corporate support, startup energy, and overall talent in the system,” says Schigel. “Mercury knows what it takes to make entrepreneurs successful and is excited to be a part of our vibrant technology ecosystem. They recognize they can benefit from continued relationships and activity within our region and I have to say I agree with them.”
“We’ve seen Cincinnati grow as an innovation hub and know this ecosystem has a lot of what it takes to build successful startups,” says Blair Garrou, Mercury Fund managing director. “It’s already been a great source of deal flow and talent for us. We’ve been a believer in Cincinnati for some time and appreciate Cintrifuse’s support as we double-down on our involvement here.”
Cintrifuse is attracted to Mercury’s relationship-oriented approach and, beyond working with them on their Fund III, will be partnering with them on initiatives such as Mercury’s Development Fund, which invests in seed-stage entrepreneurs and startups. Mercury is committed to seed and early-stage investing, and enjoys mentoring and advising entrepreneurs who are just beginning their investment journey. Mercury is leading a workshop on valuation at Cintrifuse (open to entrepreneurs), January 29, 3PM-5PM. This workshop which will cover startup valuations from a VC’s perspective as well as top challenges and pitfalls of due diligence materials and financial projections. Visit www.cintrifusemercury.eventbrite.com to register.